Janney Montgomery Scott LLC Makes New Investment in Cencora, Inc. (NYSE:COR)

Janney Montgomery Scott LLC purchased a new position in shares of Cencora, Inc. (NYSE:COR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 43,926 shares of the company’s stock, valued at approximately $12,216,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Net Worth Advisory Group grew its holdings in shares of Cencora by 1.4% during the first quarter. Net Worth Advisory Group now owns 2,645 shares of the company’s stock worth $736,000 after buying an additional 36 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Cencora by 0.6% during the fourth quarter. Whittier Trust Co. now owns 7,856 shares of the company’s stock worth $1,765,000 after buying an additional 44 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Cencora by 1.1% during the fourth quarter. Cullen Frost Bankers Inc. now owns 4,463 shares of the company’s stock worth $1,003,000 after buying an additional 47 shares during the last quarter. Permanent Capital Management LP grew its holdings in shares of Cencora by 4.0% during the first quarter. Permanent Capital Management LP now owns 1,238 shares of the company’s stock worth $344,000 after buying an additional 48 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Cencora by 4.5% during the first quarter. Exchange Traded Concepts LLC now owns 1,104 shares of the company’s stock worth $307,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 97.52% of the company’s stock.

Cencora Price Performance

Shares of COR opened at $296.92 on Friday. The stock’s 50 day moving average is $288.80 and its two-hundred day moving average is $262.88. Cencora, Inc. has a twelve month low of $218.65 and a twelve month high of $309.35. The company has a current ratio of 0.87, a quick ratio of 0.52 and a debt-to-equity ratio of 6.01. The firm has a market capitalization of $57.55 billion, a PE ratio of 34.44, a P/E/G ratio of 1.47 and a beta of 0.58.

Cencora (NYSE:COR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $4.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.07 by $0.35. Cencora had a net margin of 0.55% and a return on equity of 344.71%. The company had revenue of $75.50 billion during the quarter, compared to the consensus estimate of $75.41 billion. During the same period last year, the firm earned $3.80 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. Research analysts anticipate that Cencora, Inc. will post 15.37 earnings per share for the current year.

Cencora Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Friday, May 16th were given a dividend of $0.55 per share. The ex-dividend date was Friday, May 16th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.74%. Cencora’s payout ratio is 25.52%.

Insider Activity

In other news, Chairman Steven H. Collis sold 14,578 shares of Cencora stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $269.51, for a total transaction of $3,928,916.78. Following the completion of the sale, the chairman now directly owns 317,913 shares in the company, valued at approximately $85,680,732.63. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert P. Mauch sold 4,969 shares of Cencora stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $289.33, for a total transaction of $1,437,680.77. Following the sale, the chief executive officer now owns 47,582 shares of the company’s stock, valued at approximately $13,766,900.06. The trade was a 9.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,253 shares of company stock worth $10,582,297. Company insiders own 10.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. UBS Group raised their price target on Cencora from $298.00 to $335.00 and gave the stock a “buy” rating in a report on Tuesday, April 29th. Robert W. Baird raised their price target on Cencora from $314.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Wall Street Zen raised Cencora from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Morgan Stanley set a $288.00 price objective on Cencora in a report on Tuesday, April 15th. Finally, Wells Fargo & Company raised Cencora from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $274.00 to $337.00 in a report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $306.91.

About Cencora

Cencora, Inc sources and distributes pharmaceutical products. The company's U.S. Healthcare Solutions segment distributes pharmaceuticals, over-the-counter healthcare products, home healthcare supplies and equipment, and related services to acute care hospitals and health systems, independent and chain retail pharmacies, mail order pharmacies, medical clinics, long-term care and alternate site pharmacies, and other customers; provides pharmacy management, staffing, and other consulting services; supply management software to retail and institutional healthcare providers; packaging solutions to various institutional and retail healthcare providers; clinical trial support, product post-approval, and commercialization support services; data analytics, outcomes research, and additional services for biotechnology and pharmaceutical manufacturers; pharmaceuticals, vaccines, parasiticides, diagnostics, micro feed ingredients, and other products to the companion animal and production animal markets; and sales force services to manufacturers.